The City of Verona Common Council is working through an agreement that would redevelop 1050 N. Edge Trail, the former home of Monk’s Bar & Grill, into an affordable housing complex.
Alders approved preliminary and final plans, as well as a conditional use permit, for this project in September 2024. The building – called Argus Apartments – is slated to have 60 units with 2,000 square-feet of commercial space.
During a Monday, July 28 meeting, the council discussed the terms of a draft development agreement with Northpointe Development. Northpointe is requesting to use $1.2 million from the city’s affordable housing TIF fund for construction costs, an amount that would be paid back over time…